Alchavo
Our intelligent invoice processing solution transformed Alchavo's business by eliminating its last manual bottleneck. Automating invoice entry with AWS and AI freed up over 2,000 hours, delivered a 12x processing speed increase, and provided limitless scalability, significantly boosting client satisfaction and Alchavo's competitive edge.
Alchavo provides businesses with a comprehensive accounting solution, enabling them to outsource financial management completely. Their digital platform centralizes processes like bank reconciliations, reporting, tax compliance, and more.
Even with their advanced platform, one crucial step still relied on their clients: manual invoice entry.
Relying on manual processes led to a significant time investment and a high potential for human error, directly impacting efficiency. This approach also resulted in limited business scalability and inefficient resource utilization, ultimately creating a critical bottleneck for their clients' invoices and rapid and accurate digitization.
Alchavo recognized this pain point and explored various tech solutions. However, previous attempts failed to deliver a robust, scalable, and adaptable solution for the diverse invoices and suppliers each client manages.
They needed a solution to enhance their clients' experience while integrating seamlessly into their core accounting platform.
We developed an intelligent invoice processing system built on AWS and AI models powered by Amazon Bedrock.
This robust solution, leveraging key AWS services like S3 for secure storage, Step Functions for orchestrating complex workflows, and Lambdas for serverless processing, fully automates the often tedious task of manual invoice entry.
Here's how it works:
- Suppliers simply email invoices to a company's designated inbox, facilitated by SES (Simple Email Service).
- The system then uses Amazon Bedrock's AI models to read the document, extract key data (like vendor, items, amounts, dates, and terms), and automatically enters this information into the client's Alchavo account, communicating via API Gateway and utilizing SQS for reliable message queuing.
- The extracted data is managed with RDS SQL Server.
Our solution delivers several core benefits, starting with automatic data extraction, intelligently processing key fields like products, amounts, dates, and taxes. This is coupled with robust classification and validation through configurable rules, ensuring accuracy and continuous system learning.
Crucially, with each processed invoice, the system learns and improves its accuracy, recalling previous accounting configurations and predicting categorizations.
If the data extraction reaches a high confidence level, the invoice can even be automatically approved, requiring no client intervention.
This solution delivered a transformative impact, ushering in an era of less time, fewer errors, and happier clients, enabling limitless growth. The result is an effortless experience for users: no repetitive tasks, no mistakes, leading to significantly better customer experiences.
By automating invoice processing, over 2,000 hours were freed up for more strategic tasks. The new system is inherently scalable, allowing for a higher volume of invoices without increasing operational costs and requiring no ongoing tech support.
Notably, processing time saw a dramatic 12x improvement, cutting the "inbox to records" time from 6 minutes to a mere 20 seconds.
in processing time
freed up for more strategic tasks
